Section 115BA-Depreciation restricted to forty per cent

CBDT has restricted the allow ability to forty percent (40%) in respect of depreciation of any block of assets entitled to more than forty per cent under section 32(1)(ii) of the Income-tax Act, 1961 with effect from the 1st day of April, 2017.

This restriction is only for a domestic company which has exercised option under section 115BA(4) of the Income-tax Act, 1961 who has opted for paying 25% Income tax instead of 30% from financial year starting from 1st April, 2017